Portfolio List
H-01Dormy Inn Matsuyama
| Anticipated acquisition price |
2,427 million yen |
|---|---|
| Address | 2-6-5 Okaido, Matsuyama-shi, Ehime |
| Access | 2 minutes' walk from Okaido Stop on Iyo Railway Jonan line |
| Date of construction |
October 2017 |
| Total leasable area |
5,119.15 m² |
Regional Features
Matsuyama City, where the Property is located, boasts Matsuyama Castle, Dogo Hot Springs, Botchan Tram and other tourism resources, making it the Shikoku region’s No. 1 tourism city, with the annual number of tourists, including foreign nationals, maintaining a stable level of approximately 5,500,000 people (of which, the number of tourists from outside the prefecture is approximately 4,000,000 people) (from 2011 to 2015 according to Japan Tourism Agency).
In addition, the annual number of people staying overnight in Matsuyama City has increased from approximately 1,060,000 people in 2014 to approximately 1,630,000 people in 2016 and the percentage of people staying overnight who are foreign nationals rose from 0.9% in 2012 to 5.2% in 2016 (according to Japan Tourism Agency), showing that it is supported by strong inbound and other travel demand and lodging demand.
Okaido Shopping Street, which the Property faces, is a shopping arcade representative of Matsuyama City, with many eating/drinking establishments, merchandise stores, etc., and thus has commercial bustle. In addition, the airport is about 20 minutes to 30 minutes by Limousine Bus, making it a location with one of the most excellent access from the airport among regional cities. In addition, with business demand accounting for 70% to 80% of Matsuyama City’s lodging demand (according to Japan Hotel Appraisal Co., Ltd.), there are business travel needs, centering on the leading enterprises located in Matsuyama City. In addition, the tourist spots Matsuyama Castle and The Museum of Art, Ehime being within walking distance of the Property and the city center Matsuyama City Station being 9 minutes away by tram from Okaido Stop on the Iyo Railway Jonan Line make it an excellent location as both a tourism and business hub.
Property Features
The Property is a hotel specialized in lodging that has 13 floors above ground, with 174 guest rooms (129 double rooms, 20 queen rooms, 24 twin rooms and 1 universal room), independently developed by Takara Leben and opened on December 12, 2017. A rich lineup of services is offered, such as hot spring bathing facilities in the top-floor open-air bath type and foot bath type, serving drinks in the after-bath resting space, serving late night snack noodles and serving coffee in the lobby.
In addition, as the Property’s tenant and operator is Kyoritsu Maintenance, which boasts a track record in operating hotels throughout Japan under the Dormy Inn brand and is also a sponsor of the Investment Corporation, stable operation can be expected.